Infographic: Challenging Times for Global Oil Exploration

This infographic highlights the challenging times the global oil exploration industry faces in the current low oil price environment, but also the counter-cyclical opportunity to do more with less. Experts at research and consulting firm Wood Mackenzie say that explorers were struggling with high costs and low returns even before the oil price drop. However, as the industry adjusts to the new price environment, exploration costs are falling — presenting an opportunity for strong explorers to increase drilling activity in high-impact plays.